2 April 2014
Aircastle Ltd. (NYSE: AYR) said it has closed a USD450m unsecured revolving credit facility with Citibank, N.A., Goldman Sachs Bank USA, J.P. Morgan Chase Bank N.A. and Royal Bank of Canada, as joint lead arrangers, and Citibank, N.A. as agent.
The bank group was expanded to nine institutions and the facility´s term was extended to four years and will expire in March 2018. The facility, which will be used for working capital, including the acquisition of aircraft, was increased to USD450m from USD335m and is currently undrawn.
Aircastle Ltd. acquires, leases and sells commercial jet aircraft to airlines throughout the world. As of December 31, 2013, Aircastle´s aircraft portfolio consisted of 162 aircraft on lease with 64 customers located in 37 countries.